ispace (9348) Q3 24/25 earnings summary

Executive summary

• Net sales for the first three quarters rose 8.9% year-over-year to ¥1,989 million, but operating loss widened to ¥6,434 million and net loss attributable to owners reached ¥7,365 million, reflecting heavy R&D and upfront investments.

• The company is advancing lunar missions, with Mission 2 achieving four of ten milestones and Mission 3 contract value increasing to US$65 million, including new agreements with NASA and the Italian Space Agency.

• The business operates in a single segment focused on lunar surface development.

Financial highlights

• Operating loss increased to ¥6,434 million from ¥3,748 million year-over-year; net loss attributable to owners expanded to ¥7,365 million from ¥837 million.

• Gross profit for the period was ¥368 million, down from ¥805 million in the prior year.

• Comprehensive loss for the period was ¥8,393 million, compared to ¥575 million in the previous year.

• Basic net loss per share was ¥78.20, compared to ¥10.35 in the same period last year.

Outlook and guidance

• Full-year net sales forecast revised upward to ¥4,467 million (up 89.5% year-over-year), but operating loss expected to widen to ¥9,872 million and net loss to ¥10,774 million.

• No dividends are planned for the fiscal year.

• The company is implementing measures to address going concern risks, including R&D promotion, customer development, and flexible funding strategies.